Are you ready to see my Skillshare income report from 2015 through March 2019? You are about to look in all of the income I’ve got and if you’re new to Skillshare learn about what it is.
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Skillshare is a website where you’ve got thousands of courses that you can get to all in one spot all for a subscription. As a student, Skillshare is really good.
As an instructor, let’s see how Skillshare stacks up as an income platform.
Skillshare, since 2015 I’ve earned a total of $34,000 teaching on Skillshare. That is actually pretty bad compared to most of the other places I’ve earned.
For example, on Udemy I earned over $600,000. Now, keep in mind, I did a lot to get several of my courses to the top of big best-selling categories before Udemy asked me to stop teaching there. And on StackCommerce I’ve earned over $140,000.
Skillshare is one of the lowest places in terms of income for a instructor. The reason is Skillshare pays per minute watched, which is awesome for a student.
When you sign up and subscribe as a student you’ve got a huge choice of classes. If I show you the basics, if I show you the Skillshare link over here, I’ve got a link to Skillshare on jerrybanfield.com/links.
You can go see what Skillshare looks like based on this and you can browse the home page over here.
You can see some of the classes I’ve taken and if I sign out over here you’ll be able to see what it looks like.
So this is the Skillshare page. It’s got unlimited access to more than 26,000 classes. That’s what makes Skillshare really good for students.
The problem is, when you’re an instructor on Skillshare you only get paid when people actually watch minutes of your course. This means if you make a course and hardly anyone watches it, you won’t earn hardly anything.
If you look at my courses over here, you can see how many people enrolled. I got a new course with seven students. This one with five.
This one with six. This one with nine.
This one with 14.
The amount of enrollments on Skillshare are really low. This is unfortunate, because Skillshare is such a great platform for students meanwhile, the earnings can be really low.
It depends on your subject. If you can put up a subject that’s in-demand on Skillshare you can earn a lot.
I’ll go back through all of my income months on Skillshare. I started in April 2015. You can see the first three months I had an account nothing earned.
Then $15, then $164 and then it kept going up as I continued uploading more classes.
Then it didn’t do much and this is including referrals.
What’s nice about Skillshare is you can make $10 for every single referral and in many cases, as we’re about to see, the referrals actually have been a huge amount of income.
If you can refer people to Skillshare, you then can get minutes watched from the people you’ve referred indefinitely which is an outstanding opportunity.
You’ll notice most instructors from what I’ve seen don’t refer anyone to Skillshare, because of the income.
If you’re teaching on say several other platforms plus you’ve got your own course hosting, why would you tell anybody about Skillshare if you get $10 a referral, but you only earn per minute watched?
Right now let us look at how much you actually make per minute watched. Let’s look at some of these other months when I’ve actually got paid on them.
January 2019. So you can see royalties, $138 paid in January 2019.
That means I was paid from December. So if we go up to December, I got $138 for 3,000 premium minutes watched which if we divide by 60 real quick comes out to about 50 hours people spent watching my courses.
Therefore, if you do 50, you get about $3 an hour that you earn when people watch your course. That means if you watch an hour of my video course on Skillshare, I’ll earn about $3 in royalties from that. If you join via referral, I get $10 from that.
As you can see, I actually earned much more from referrals in January 2019 than I did from the actual royalties on my courses.
And most of the months lately the amount earned in referrals has actually been greater than royalties.
Now, if you scroll back, I originally earned off of all royalties, because for the first year I was on Skillshare I did not promote Skillshare anywhere at all.
Then once Udemy decided they’d be better off without me, I started promoting Skillshare starting in October 2016. I started then doing referrals. You’ll notice up to a high here of 152 referrals in February 2017.
I ran a Facebook Ads campaign and spent probably about the same as I earned on that thinking the more referrals I could get in, the more royalties I would earn.
You also notice I did earn a lot of royalties in February 2017 as I got a lot of people in off of Facebook Ads who ended up watching my courses.
What happened here after that is I got into crypto and I stopped paying attention to Skillshare. The system I was using would have been really good long term if I’d continued to create courses.
Therefore, if you want to earn on Skillshare, you really need to get those referrals from people interested in watching your courses. I went all in promoting Skillshare for months all over my business. Then as I got heavier into crypto, I stopped promoting Skillshare, but the momentum continued for months after that as the tutorial videos I put out people continued to join Skillshare anyway.
But as you’ll notice then as I did less and less, I did almost nothing on Skillshare for a year and a half after a peak right about here in this area.
I was making a new video course on Skillshare every week. I was advertising Skillshare, I was doing a lot and it continues to just drop and drop from here.
Skillshare changed the royalties a bit and that dropped things even more. And when you don’t have referrals, it’s hard to get people watching your video courses.
And when as I’ve just been making YouTube videos, talking about Skillshare, when you got people joining Skillshare that don’t care about watching your video courses, it doesn’t do much to your royalties.
So I am very grateful for everyone who’s joined Skillshare, but not many interested in actually watching my courses. Thus, if you want to earn on Skillshare it can be a good opportunity, but you ideally want to refer people plus then have them watch courses. I imagine a lot of instructors could do really well with Skillshare if they’d actually mention that their courses are on Skillshare.
Because as a student, Skillshare is by far the best value out of all these different platforms. If you look at this, there’s 26,000 classes on Skillshare.
Most of these classes are also on Udemy. Udemy has a 100,000 and something classes. And 20,000 something of them I estimate from what I’ve seen are on Skillshare and you can get them all.
The Skillshare cost is $96 a year which when you consider buying one course for $10 on a different website is a fantastic value. You can watch all you want too. The mobile app is great.
When you refer somebody, you can give somebody two months. This is what it’ll look like if you join Skillshare off my referral.
You’ll get Skillshare premium for two months which means you can watch as many classes as you want for two months.
The downside is, as an instructor you need to put a lot of work into actually promoting your Skillshare to get any momentum. Otherwise, you’ll put up new courses and most of the time like my first few months on Skillshare I got nothing and then $15 in this month.
Unless Skillshare starts picking up and promoting your courses you might not do that much. But if you just make a lot of courses, Skillshare is relatively easy to upload.
The downside of Skillshare in addition to what I’ve already stated, Skillshare has its own specific requirements about what you can and can’t upload.
On Skillshare you must be the primary instructor which means for the video classes I’m executive producing where I’m not the primary instructor, I’m not allowed to upload those on Skillshare. And some of my best-selling courses have been ones I paid other people to make and then those did really well.
I paid them to make the course, because I could see it was in-demand and there weren’t a lot of good competing courses out.
If you are doing that business model, you can’t use it on Skillshare, because you must be the primary narrator on your course. This is problematic also for co-instructed courses.
If you’ve partnered with someone else you’re only allowed to put your part of the course essentially on Skillshare which is very limiting.
Again, as a student though it’s really nice, because you know what you’re getting. When you go to a Jerry Banfield course on Skillshare you know it’s actually narrated by Jerry Banfield.
Skillshare is a nice niche platform where you have a lot of good opportunities on Skillshare to learn. If you’ve got the right thing to teach and you can promote it, you might have a chance to make a lot more than me on Skillshare.
I’ve heard others that are partners with me, and what they’ve said from others they’ve talked to, are making a lot more than me on Skillshare. I trust you’ll help me earn some if this has been helpful for you using the links either on jerrybanfield.com/links or in the description of the video.
You can either sign up for Skillshare and help me earn $10 or if you want to teach on Skillshare it’d be really helpful if you submit your information and then I’ll submit that on the referral form.
You’ll get an email from Skillshare that you were referred from me and if you teach a course on Skillshare using the referral from me I get $50. So far I haven’t done that yet. I’m just giving this a try.
If you’d like some more of these Skillshare specific income reports, I trust you’ll leave a like on the YouTube video or the Facebook video of this.
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